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The company that made the folding Glock and filed for bankruptcy in November is auctioning off its assets in an open bidding process that will begin June 24, GunsAmerican has learned.
Full Conceal, Inc., is selling two patents, one pending patent, and 16 firearms in an auction with a starting bid of $75,000. Any interested party can participate, but they need to post $100,000 one day prior to the sale.
The patents for sale include the company’s famous folding handgun along with a safety trigger. The winning bidder will also receive the rights to a pending patent for a device titled “Magazine Retention Device with Integrated Aiming System.”
The sixteen firearms for sale include seven M3Ds based on the 9mm Glock 19, four M3Ss based on the 9mm Glock 43, and five M3D-S69mms, the company’s own production handgun.
Liberty Financial currently holds the highest bid at $75,000, according to bankruptcy documents. The bankruptcy trustee reached out to several firearms companies to determine interest in Full Conceal’s patents, but none offered a higher price than $75,000. To beat Liberty Financial’s offer, another bidder must raise the bid by at least $25,000. After that, the bid must be raised in at least $2,000 increments.


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What's the matter MT, you a little short this month?

Gaz
 

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